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Equity shares, Equity oriented fund , Business trust fund
👆 this r eligible for exemption or any amendment ???
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10 (38)
Replies (5)
Amendment as per Finance act 2018, refer sec. 112A ...
i wnt to knw only for ay 18-19 whether exemption is available on units of business trust fund or not. Somewhere it is written yes or somewhere no ..bit confused
The amendment is effective from AY 2019-20.
So, for AY 2018-19... exemption u/s. 10(38) is available.
Sir u mean Units of business trust is allowed to exemption
Read:: act...
(38) any income arising from the transfer of a long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust where—
(a) the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and
(b) such transaction is chargeable to securities transaction tax under that Chapter :
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